Financial Performance - The company's operating revenue for 2020 was ¥14,231,727,949.61, a decrease of 10.42% compared to ¥15,886,871,683.43 in 2019[25] - The net profit attributable to shareholders was a loss of ¥444,230,430.81, representing a decline of 210.42% from a profit of ¥402,294,451.12 in the previous year[25] - The net cash flow from operating activities decreased by 56.24% to ¥828,351,709.37, down from ¥1,892,922,477.41 in 2019[25] - The basic earnings per share were -¥0.31, a drop of 214.81% compared to ¥0.27 in 2019[25] - Total assets at the end of 2020 were ¥17,610,075,576.16, a decrease of 3.96% from ¥18,335,875,515.57 at the end of 2019[25] - The net assets attributable to shareholders decreased by 10.77% to ¥5,622,219,847.15 from ¥6,300,744,089.76 in 2019[25] - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of ¥754,531,371.57 compared to a profit of ¥51,365,361.62 in 2019, marking a decrease of 1,568.95%[25] - The weighted average return on net assets was -7.31%, down from 6.07% in the previous year[25] - The company reported a net loss of approximately 431.66 million yuan for the year 2020, resulting in a cash dividend distribution of 0.00 yuan, which corresponds to 0.00% of the net profit attributable to ordinary shareholders[130] Revenue Breakdown - The company's revenue for Q4 reached ¥5,572,764,176.04, while the total annual revenue decreased by 10.42% year-on-year[41] - The main business revenue from the cotton spinning industry was approximately ¥14.16 billion, accounting for 99.48% of total revenue, down 10.46% from ¥15.81 billion in 2019[49] - Revenue from yarn products was approximately ¥5.71 billion, representing 40.11% of total revenue, a decline of 20.25% from ¥7.16 billion in 2019[52] - Revenue from net chain products was approximately ¥8.30 billion, accounting for 58.33% of total revenue, down 3.55% from ¥8.61 billion in 2019[52] - Overseas sales of main business were approximately ¥1.30 billion, a significant decrease of 45.16% from ¥2.36 billion in 2019[52] - Domestic sales of main business were approximately ¥12.86 billion, a decrease of 4.36% from ¥13.45 billion in 2019[52] Market and Industry Context - The textile and apparel retail sales in China decreased by 6.6% in 2020, reflecting the impact of the pandemic on the industry[47] - The total export of textiles and apparel from China reached $291.21 billion in 2020, with a year-on-year growth of 9.5%[47] - The company experienced a significant decline in revenue due to the dual impact of the pandemic and sanctions, alongside rising costs from structural adjustments[41] Strategic Initiatives - The company plans to enhance domestic market development and strengthen supply chain integration, focusing on partnerships with leading brands and e-commerce platforms[47] - The company aims to accelerate the construction of intelligent spinning factories and develop a digital cotton interconnection platform[47] - The company is committed to continuing its "main business and shared industry" strategy while enhancing its front-end and back-end supply chains[47] - The company plans to invest in a new 100,000 spindle spinning factory in Vietnam in 2021[74] - The company is focusing on a product strategy that emphasizes functional technology, fashion responsiveness, sustainability, and high-quality development[116] Research and Development - The company reported a total of 117 national patents filed, with 79 patents granted, including 43 invention patents, leading the color-spun yarn industry[43] - Research and development expenses amounted to ¥153,121,988.42, accounting for 1.08% of the operating revenue[81] Cash Flow and Investments - Operating cash inflow totaled ¥16,123,060,552.31, a decrease of 18.54% compared to the previous year[83] - The total cash inflow from investing activities increased by 289.89% to ¥786,652,962.49, while cash outflow decreased by 8.92% to ¥1,148,248,095.71, resulting in a net cash flow from investing activities of -¥361,595,133.22, an improvement of 65.81%[87] - The net cash flow from financing activities was -¥304,123,802.65, a decrease of 74.75% from -¥576,958,913.87, attributed to an increase in bank loan repayments[87] Environmental Compliance - The company has established wastewater treatment stations that are operating well and meet production needs[179] - The company strictly adheres to environmental impact assessment regulations for new, modified, and expanded projects[180] - Zhejiang Shabiao Fiber Co., Ltd. reported no environmental violations in 2020, with a wastewater pretreatment capacity of 5,000 tons per day, utilizing biological-chemical processes[183] - Aksu Biaoxin Fiber Co., Ltd. also had no environmental violations in 2020, with a wastewater pretreatment capacity of 6,000 tons per day, employing similar treatment methods[184] - Huafu Vietnam Industrial Co., Ltd. maintained compliance with local environmental laws in 2020, with a wastewater treatment system designed for 6,000 cubic meters per day, currently processing an average of 2,500 cubic meters daily[185] Shareholder Information - The total number of ordinary shareholders for Huafu Fashion Co., Ltd. at the end of the reporting period was 16,674, an increase from 15,798 at the previous month-end[195] - Huafu Holding Co., Ltd. is the largest shareholder, holding 34.27% of the shares, amounting to 520,705,950 shares[195] - The total number of shares for Huafu Fashion Co., Ltd. is 1,519,375,555, with 99.92% being unrestricted shares[192]

华孚时尚股份有限公司 2021 年第一季度报告全文 华孚时尚股份有限公司 2021 年第一季度报告 2021 年 04 月 1 华孚时尚股份有限公司 2021 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人孙伟挺、主管会计工作负责人陈玲芬及会计机构负责人(会计主 管人员)王国友声明：保证季度报告中财务报表的真实、准确、完整。 2 华孚时尚股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |-----------------------------------------------------|-------------------|-------------------|------------------------| | | 本报告期 | 上年同期 | 本报告期比上年同 ...

Financial Performance - The company's operating revenue for 2020 was ¥14,231,727,949.61, a decrease of 10.42% compared to ¥15,886,871,683.43 in 2019[25] - The net profit attributable to shareholders was -¥444,230,430.81, representing a decline of 210.42% from ¥402,294,451.12 in the previous year[25] - The net cash flow from operating activities was ¥828,351,709.37, down 56.24% from ¥1,892,922,477.41 in 2019[25] - The basic earnings per share were -¥0.31, a decrease of 214.81% compared to ¥0.27 in 2019[25] - Total assets at the end of 2020 were ¥17,610,075,576.16, a decrease of 3.96% from ¥18,335,875,515.57 at the end of 2019[25] - The net assets attributable to shareholders were ¥5,622,219,847.15, down 10.77% from ¥6,300,744,089.76 in 2019[25] - The company reported a significant drop in net profit after deducting non-recurring gains and losses, with a figure of -¥754,531,371.57 for 2020[25] - The weighted average return on net assets was -7.31% for 2020, a decrease of 13.38% from 6.07% in 2019[25] Revenue Breakdown - The main business in the cotton spinning industry generated revenue of approximately ¥14.16 billion, accounting for 99.48% of total revenue, with a decline of 10.46% year-on-year[46] - The company's total revenue for the cotton spinning industry was approximately CNY 14.16 billion, a decrease of 10.46% year-over-year[50] - Yarn revenue accounted for CNY 5.71 billion, down 20.25% compared to the previous year, with a gross margin of 1.46%[50] - The net revenue from the web chain segment was CNY 8.30 billion, representing a decline of 3.55% year-over-year, with a gross margin of 0.80%[50] - The sock products segment saw a significant increase in revenue to CNY 149.57 million, up 212.43% year-over-year, with a gross margin of 16.85%[50] - Domestic sales contributed CNY 12.86 billion, accounting for 90.38% of total sales, with a decrease of 4.36% year-over-year[50] - Overseas sales dropped to CNY 1.30 billion, representing a 45.16% decline compared to the previous year[50] Production and Capacity - The company’s yarn production capacity was 1.89 million spindles, with an annual output of 250,000 tons of new yarn[38] - Total production capacity remained at 1.89 million spindles, with a capacity utilization rate dropping to 71.00% from 91.00% year-on-year[65] - The company reported a total of 220,276 tons in sales volume, a decrease of 14.95% year-over-year, while production volume fell by 25.54% to 191,131 tons[53] - The inventory level decreased by 44.43% to 36,447 tons, primarily due to reduced stock[53] Cash Flow and Investments - Operating cash inflow decreased by 18.54% to ¥16,123,060,552.31, while net cash flow from operating activities fell by 56.24% to ¥828,351,709.37[77] - Investment activities generated a net cash outflow of ¥361,595,133.22, a significant improvement from the previous year's outflow of ¥1,059,005,163.69[77] - The company reported a 14.78% decrease in cash inflow from financing activities, totaling ¥11,755,988,039.44[77] - R&D investment accounted for 1.08% of total revenue, with a total R&D expenditure of ¥153,121,988.42[76] Strategic Initiatives - The company plans to enhance domestic market development and strengthen supply chain integration, focusing on product innovation and operational efficiency[44] - The company aims to accelerate the construction of a smart cotton spinning factory and develop a digital interconnection platform for the cotton industry[44] - The company is committed to a strategy of "maintaining the main business and sharing the industry," focusing on both upstream and downstream supply chain development[44] - The company plans to invest in a new 100,000 spindle spinning factory in Vietnam in 2021, expanding its overseas production capacity[66] - The company is actively developing domestic and non-U.S. markets to mitigate risks associated with geopolitical tensions and order volatility[106] - The company is integrating advanced information systems like SAP and ERP to enhance supply chain efficiency and responsiveness[109] Shareholder and Dividend Information - The company plans not to distribute cash dividends or issue bonus shares for the year[6] - The company implemented a cash dividend policy, distributing 1.41 per 10 shares, totaling approximately 201.12 million, consistent with its shareholder return plan[115] - In 2020, the company did not distribute any cash dividends due to operating losses, with a net loss of approximately 431.66 million CNY[121] - The cash dividend payout ratio for 2019 was 49.99% of the net profit attributable to ordinary shareholders[121] - The cash dividend payout ratio for 2018 was 67.30% of the net profit attributable to ordinary shareholders[121] Environmental Compliance - The company has established a comprehensive environmental risk emergency mechanism for key pollutant discharge enterprises[170] - The company conducts automatic sampling and testing of wastewater discharge parameters to ensure compliance with discharge standards[171] - Zhejiang Shabiao Fiber Co., Ltd. had a wastewater treatment capacity of 5,000 tons/day, with no environmental violations reported in 2020[173] - Aksu Biaoxin Fiber Co., Ltd. reported a wastewater treatment capacity of 6,000 tons/day, also with no environmental violations in 2020[174] - The wastewater discharge standards in Vietnam comply with the strictest local regulations, achieving all pollution indicators within limits in 2020[174] Corporate Structure and Governance - The company has a total of 10 subsidiaries, with Zhejiang Huafu Color Spinning Co., Ltd. contributing a net profit of ¥106,311,871.04, accounting for over 10% of the company's net profit[96] - The current accounting firm is Dahua Certified Public Accountants, with an audit fee of 1.1 million CNY and a continuous service period of 10 years[135] - The company has no major litigation or arbitration matters during the reporting period[139] - The company has not experienced any changes in its controlling shareholder during the reporting period[194] - The actual controller of the company remains unchanged during the reporting period[199]

Financial Performance - Operating revenue for the reporting period was CNY 3,103,105,322.66, a decline of 16.40% compared to the same period last year[10]. - Net profit attributable to shareholders of the listed company was a loss of CNY 54,251,122.67, representing a decrease of 197.29% year-on-year[10]. - Basic earnings per share were -CNY 0.04, a decrease of 200.00% year-on-year[10]. - Total operating revenue for the current period is ¥3,103,105,322.66, a decrease of approximately 16.4% from ¥3,711,824,158.98 in the previous period[60]. - Net profit for the current period is -¥58,026,531.78, compared to a net profit of ¥47,161,807.56 in the previous period, indicating a significant decline[63]. - Basic earnings per share for the current period is -¥0.04, compared to ¥0.04 in the previous period[67]. - The total comprehensive income for the current period is -¥117,494,375.56, a significant decrease from ¥78,728,104.30 in the previous period[67]. - The company incurred a net loss of ¥247,666,716.99, compared to a profit of ¥412,746,290.59 in the previous period, highlighting a substantial decline[78]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 17,032,885,183.66, a decrease of 7.11% compared to the end of the previous year[10]. - The company's total current assets decreased from ¥11,359,421,568.77 to ¥10,361,522,321.60, reflecting a reduction in inventory and other current assets[41]. - The company's total liabilities decreased, indicating improved financial stability and reduced leverage[23]. - Total liabilities decreased from ¥11,656,234,274.17 to ¥10,885,630,725.20, a reduction of approximately 6.6%[49]. - The company's total equity decreased from ¥6,679,641,241.40 to ¥6,147,254,458.46, a decline of about 7.9%[50]. - The company's cash and cash equivalents decreased from ¥183,459,675.36 to ¥130,735,624.65, a decline of approximately 28.7%[51]. - The company's accounts payable increased from ¥542,262,014.02 to ¥595,976,485.43, an increase of about 9.9%[47]. Cash Flow - The net cash flow from operating activities was CNY 806,421,989.53, down 21.31% compared to the same period last year[10]. - Cash flow from operating activities was ¥1,347,055,801.29, a decrease of 13.5% compared to ¥1,556,554,858.81 in the previous period[92]. - Cash inflow from operating activities totaled ¥8,752,430,913.89, down 32.1% from ¥12,963,388,802.17 in the previous period[92]. - The net cash flow from investing activities was -¥282,381,085.38, an improvement from -¥911,299,147.56 in the previous period[95]. - The net cash flow from financing activities was -¥1,412,632,012.54, worsening from -¥867,502,551.53 in the previous period[95]. Government Support and Other Income - The company received government subsidies amounting to CNY 103,799,760.14 during the reporting period[10]. - Other income fell by 68.96% to ¥124,188,859.89, primarily due to a decrease in government subsidies[23]. Investments and Expenses - Investment income rose by 93.04% to ¥164,592,902.50, attributed to increased futures delivery income and financial management income[23]. - Research and development expenses for the current period are ¥22,895,368.59, down from ¥43,920,731.38, a reduction of about 47.9%[60]. - Research and development expenses for the current period are ¥70,083,901.24, down from ¥88,055,506.57, indicating a potential shift in investment strategy[75].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥5,555,858,450.91, a decrease of 24.40% compared to ¥7,348,666,615.14 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was -¥189,450,557.37, representing a decline of 153.90% from ¥351,494,650.82 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥302,431,987.91, a decrease of 244.00% compared to ¥210,016,238.97 in the same period last year[23]. - The basic earnings per share were -¥0.12, down 152.17% from ¥0.23 in the previous year[23]. - The company achieved operating revenue of CNY 5.56 billion, a decrease of 24.40% year-on-year[41]. - The net profit attributable to shareholders was CNY -1.89 billion, a decline of 153.90% compared to the previous year[41]. - The company reported a gross profit margin of approximately -2.7% for the first half of 2020, compared to a gross profit margin of 5.3% in the first half of 2019[178]. - The company recorded a total comprehensive loss of approximately -¥199.38 million for the first half of 2020, compared to a comprehensive income of ¥300.59 million in the same period of 2019[182]. Assets and Liabilities - The total assets at the end of the reporting period were ¥17,206,919,423.70, a decrease of 6.16% from ¥18,335,875,515.57 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company were ¥5,900,426,902.49, down 6.35% from ¥6,300,744,089.76 at the end of the previous year[23]. - Cash and cash equivalents at the end of the reporting period amounted to ¥2,611,090,299.79, representing 15.17% of total assets, an increase of 2.93% compared to the previous year[50]. - Inventory decreased to ¥4,835,206,315.06, accounting for 28.10% of total assets, down by 2.28% from the previous year[50]. - Short-term borrowings decreased to ¥7,521,538,733.05, which is 43.71% of total liabilities, a reduction of 5.75% compared to the previous year[50]. - Long-term borrowings increased to ¥1,120,561,818.00, representing 6.51% of total liabilities, an increase of 3.95% from the previous year[50]. - The total liabilities amounted to ¥10,941,516,789.68, a decrease of approximately 6.1% from ¥11,656,234,274.17[162]. - The total equity attributable to shareholders decreased to ¥5,900,426,902.49, down from ¥6,300,744,089.76, reflecting a decline of about 6.4%[165]. Cash Flow - The net cash flow from operating activities was ¥540,633,811.77, an increase of 1.67% compared to ¥531,754,019.78 in the same period last year[23]. - Cash inflow from operating activities totaled CNY 5,664,524,879.45, down from CNY 8,149,241,241.05 year-over-year[194]. - Cash outflow from investing activities was CNY 391,908,171.02, compared to CNY 1,107,964,490.52 in the previous period[197]. - Net cash flow from investing activities improved to CNY 247,878,851.72, from a negative CNY 548,758,427.53 in the previous period[197]. - Cash inflow from financing activities was CNY 6,801,454,292.17, down from CNY 7,478,678,727.25 year-over-year[197]. - Net cash flow from financing activities showed a negative balance of CNY -1,596,523,790.07, compared to CNY -593,116,159.73 in the previous period[197]. Operational Challenges - The company faced significant challenges leading to a substantial decline in profitability, as indicated by the drastic changes in key financial metrics[23]. - The yarn segment contributed CNY 2.37 billion to revenue, down 35.45% year-on-year, primarily due to reduced sales from the pandemic[45]. - The company faced risks from the COVID-19 pandemic, which has led to uncertainties in global demand and potential reductions in orders from downstream brands[74]. - Cotton costs account for over 60% of total costs, and fluctuations in raw material prices, particularly cotton and polyester, pose challenges to the company's operations[74]. - The company has been impacted by the US-China trade tensions, with its subsidiary Akesu Huafu Color Spinning Co., Ltd. being placed on the US Entity List, affecting its overseas market expansion[76]. Research and Development - Research and development investment increased by 6.92% to CNY 47.19 million[42]. - Research and development expenses increased to approximately ¥47.19 million in the first half of 2020, up from ¥44.13 million in the same period of 2019[175]. - The company has obtained a total of 119 registered patents, ranking first in the color spinning industry[36]. Social Responsibility and Environmental Impact - The company actively engages in targeted poverty alleviation through various channels, including industrial, employment, and educational support, in line with national policies[113]. - The company has established wastewater treatment facilities that are operating well, meeting production needs[109]. - A total of 935.08 tons of sludge were disposed of by the company during the first half of 2020[109]. - The company has established a comprehensive environmental risk emergency mechanism, ensuring efficient response to sudden environmental pollution incidents[112]. - The company maintains a commitment to social responsibility, aligning its operations with national poverty alleviation goals[113]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,215, with significant holdings by major shareholders such as Huafu Holdings Co., Ltd. at 34.27%[123]. - The total number of shares outstanding is 1,519,375,555, with 99.92% being unrestricted shares[120]. - The employee stock ownership plan completed the purchase of 27,119,969 shares, accounting for 1.78% of the total share capital, with an average transaction price of approximately 7.32 CNY per share[88]. - No significant changes in shareholding structure were reported during the period[114].

Financial Performance - The company's operating revenue for 2019 was ¥15,886,871,683.43, representing an increase of 11.04% compared to ¥14,307,433,720.22 in 2018[23] - The net profit attributable to shareholders for 2019 was ¥402,294,451.12, a decrease of 46.14% from ¥751,781,446.52 in 2018[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥51,365,361.62, down 83.40% from ¥314,143,765.20 in the previous year[23] - The basic earnings per share for 2019 was ¥0.27, a decline of 46.00% compared to ¥0.50 in 2018[23] - The total assets at the end of 2019 were ¥18,335,875,515.57, a decrease of 1.08% from ¥18,462,322,828.79 at the end of 2018[25] - The net assets attributable to shareholders at the end of 2019 were ¥6,300,744,089.76, down 9.77% from ¥6,923,921,461.38 at the end of 2018[25] - The net cash flow from operating activities for 2019 was ¥1,892,922,477.41, compared to a negative cash flow of -¥485,799,889.22 in 2018[23] - The weighted average return on net assets for 2019 was 6.07%, down from 10.82% in 2018[25] Revenue and Sales - The company achieved total operating revenue of CNY 15.89 billion in 2019, representing an increase of 11.04% compared to CNY 14.31 billion in 2018[42] - In Q4 2019, the company reported operating revenue of CNY 4.83 billion, the highest quarterly revenue for the year[28] - The company’s main business, cotton spinning, accounted for 99.52% of total revenue in 2019, with revenue of CNY 15.81 billion[45] - Yarn sales amounted to ¥7,157,498,515.00, with a gross margin of 12.32%, reflecting a year-on-year decrease of 3.37%[49] - The net sales from overseas reached ¥2,362,996,180.40, accounting for 14.87% of total sales, with a growth of 16.81% year-on-year[49] Research and Development - The company invested ¥162,547,988.38 in R&D, which is 1.02% of total revenue, focusing on new products, technologies, and environmental projects[64] - The number of R&D personnel decreased by 10.73% to 815 in 2019 from 913 in 2018[66] - R&D investment decreased by 15.57% to ¥162,547,988.38 in 2019 from ¥192,522,366.20 in 2018[66] - The company has filed for 83 national invention and utility model patents, with 70 patents granted, leading the industry in patent quantity[37] Cash Flow and Investments - Operating cash inflow increased by 16.78% to ¥19,792,279,961.97 in 2019 from ¥16,948,469,769.22 in 2018[69] - Cash and cash equivalents increased by 169.16% to ¥237,263,176.52 in 2019 from ¥88,150,897.15 in 2018[69] - The total amount of raised funds in 2017 was CNY 218,011.66 million, with CNY 915.02 million utilized in the current period[83] - The investment progress for the Akesu 160,000 spindles high-end yarn project is 86.00%, with a cumulative investment of CNY 77,057.06 million[84] - The investment progress for the Huafu (Vietnam) 160,000 spindles high-end yarn project is 75.13%, with a cumulative investment of CNY 66,415.39 million[84] Dividends and Share Buybacks - The company plans to distribute a cash dividend of ¥1.41 per 10 shares, totaling approximately ¥200 million based on 1,426,402,520 shares[5] - In 2019, the company distributed cash dividends of 201,122,755.32 CNY, which is 1.41 CNY per 10 shares, accounting for 49.99% of the net profit attributable to shareholders[119] - The total cash dividend amount, including share buybacks, reached 604,928,538.24 CNY, representing 100.00% of the distributable profit[120] - The company has implemented a share buyback plan, completing the repurchase of 92,973,035 shares, which do not participate in the dividend distribution[116] Market and Strategic Focus - The company is focusing on expanding its market presence and enhancing supply chain efficiency in response to increasing demand for personalized and diverse consumer products[104] - The company plans to deepen its front-end network chain while accelerating the development of its back-end network chain to enhance comprehensive operations[104] - The company aims to expand its domestic market presence by leveraging the growing scale of the Chinese market and enhancing its customer base, targeting a higher proportion of value customers[108] - The company is committed to transforming from a fashion manufacturer to a fashion operator, focusing on flexible supply chains and customized services[108] Environmental and Social Responsibility - The company has implemented environmental protection measures, with no exceedances in pollutant emissions reported[175][178] - The company has a wastewater treatment capacity of 3,000 to 5,000 tons per day, with operations running smoothly to meet production needs[37] - The company has actively responded to national poverty alleviation initiatives, planning to increase the employment ratio of workers from Xinjiang in future operations[173][174] - The company has committed to strict compliance with environmental impact assessments for new, modified, and expanded projects[37] Risks and Challenges - The company has outlined potential risks in its future development outlook, which investors are advised to consider[5] - The ongoing risks include fluctuations in the RMB exchange rate affecting production costs and revenues, as well as uncertainties from the COVID-19 pandemic impacting consumer confidence[105] - The company is facing risks related to stricter environmental standards, which may lead to the exit of outdated production capacities in the dyeing industry[104] - The cotton cost constitutes over 60% of the total cost, making the company vulnerable to fluctuations in raw material prices due to various market factors[104] Corporate Governance - The company has not faced any major litigation or arbitration matters during the reporting period[142] - The company has disclosed that it will fulfill its information disclosure obligations in accordance with relevant laws and regulations[147] - The company has appointed Da Hua Accounting Firm as its auditor, with an audit fee of 1,725,000 yuan for the year[140] - The company has not reported any significant changes in its subsidiaries or other major matters[181]

华孚时尚股份有限公司 2020 年第一季度报告全文 1 华孚时尚股份有限公司 2020 年第一季度报告 2020 年 04 月 华孚时尚股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人孙伟挺、主管会计工作负责人陈玲芬及会计机构负责人(会计主 管人员)王国友声明：保证季度报告中财务报表的真实、准确、完整。 2 华孚时尚股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |----------------------------------------------------|-------------------|-------------------|---------------------------| | | 本报告期 | 上年同期 | 本报告期比上 ...

华孚时尚股份有限公司 2019 年第三季度报告全文 华孚时尚股份有限公司 2019 年第三季度报告 2019 年 10 月 1 华孚时尚股份有限公司 2019 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人孙伟挺、主管会计工作负责人陈玲芬及会计机构负责人(会计主 管人员)王国友声明：保证季度报告中财务报表的真实、准确、完整。 2 华孚时尚股份有限公司 2019 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------------ ...

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 7,348,666,615.14, representing an increase of 8.22% compared to CNY 6,790,390,113.51 in the same period last year[23]. - The net profit attributable to shareholders of the listed company decreased by 36.36% to CNY 351,494,650.82 from CNY 552,335,501.89 year-on-year[23]. - The net profit after deducting non-recurring gains and losses was CNY 210,016,238.97, down 46.33% from CNY 391,285,759.87 in the previous year[23]. - The basic earnings per share were CNY 0.23, down 36.11% from CNY 0.36 in the same period last year[23]. - The diluted earnings per share were also CNY 0.23, reflecting the same percentage decrease as the basic earnings per share[23]. - The weighted average return on net assets was 5.07%, down 2.64% from 7.71% in the previous year[23]. - The company achieved a revenue of RMB 7.35 billion in the reporting period, representing a year-on-year increase of 8.22%[41]. - Net profit attributable to shareholders was RMB 351 million, a decrease of 36.36% compared to the previous year[41]. Cash Flow and Assets - The net cash flow from operating activities surged by 4,879.67% to CNY 531,754,019.78, compared to CNY 10,678,502.44 in the same period last year[23]. - Cash and cash equivalents at the end of the reporting period amounted to RMB 2,155,016,631.32, representing 12.24% of total assets, an increase of 0.41% compared to the same period last year[49]. - Accounts receivable decreased to RMB 728,770,298.10, accounting for 4.14% of total assets, down by 0.76% year-on-year[49]. - Inventory increased to RMB 5,347,639,248.43, making up 30.38% of total assets, an increase of 2.03% compared to the previous year[49]. - Short-term borrowings rose significantly to RMB 8,706,935,995.66, which is 49.46% of total assets, reflecting an increase of 7.68% year-on-year[49]. - Long-term borrowings increased to RMB 450,727,771.57, representing 2.56% of total assets, up by 0.89% compared to the previous year[49]. - The total assets at the end of the reporting period were CNY 17,602,635,151.16, a decrease of 4.66% from CNY 18,462,322,828.79 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company decreased by 10.62% to CNY 6,188,600,405.48 from CNY 6,923,921,461.38 at the end of the previous year[23]. Production and Investment - The company's total production capacity reached 1.89 million spindles, with a balanced capacity layout across five major production areas[35]. - Research and development investment increased by 58.74% to RMB 44.13 million, reflecting a focus on product innovation[42]. - Revenue from the yarn segment decreased by 9.10% to RMB 3.66 billion, while revenue from the network chain segment increased by 41.35% to RMB 3.66 billion[45]. - Domestic sales accounted for 79.88% of total revenue, with a year-on-year growth of 22.03%[45]. Financial Risks - The company faces risks related to raw material price fluctuations, with cotton costs accounting for over 60% of total costs, which could impact profitability[2]. - The company is also exposed to RMB exchange rate risks due to international procurement and export activities, which may affect production costs and revenue[2]. - The company plans to enhance its core yarn business through innovation and operational improvements to mitigate risks from the US-China trade tensions[2]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company has committed to not reducing its shareholding in the company during the specified period, ensuring stability for minority shareholders[3]. - The employee stock ownership plan completed the purchase of 27,119,969 shares, accounting for 1.78% of the total share capital, with a total transaction amount of 198.64 million yuan[97]. - The company repurchased a total of 92,973,035 shares, accounting for 6.12% of the total share capital, with a total transaction amount of approximately RMB 599.92 million[144]. - The total number of shares outstanding is 1,519,375,555, with 99.89% being unrestricted shares[141]. Environmental and Social Responsibility - The company disposed of 1,492.92 tons of sludge and utilized other solid waste reasonably during the first half of 2019[127]. - The company has established a comprehensive environmental risk emergency mechanism for key pollutant discharge enterprises[129]. - The company actively responds to national calls for social responsibility, supporting poverty alleviation efforts[131]. - The company plans to continue increasing the proportion of employees from Xinjiang in its production facilities as part of its poverty alleviation efforts[134]. Corporate Governance - The company appointed Song Chenling as Vice President and elected him as a Director on April 23, 2019, and May 15, 2019, respectively[167]. - The company has not disclosed any major events related to its subsidiaries during the reporting period[136]. - The company is in the process of preparing for a non-public issuance of convertible bonds, with relevant announcements to follow[146].

华孚时尚股份有限公司 2019 年第一季度报告全文 华孚时尚股份有限公司 2019 年第一季度报告 2019 年 04 月 1 华孚时尚股份有限公司 2019 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人孙伟挺、主管会计工作负责人陈玲芬及会计机构负责人(会计主 管人员)王国友声明：保证季度报告中财务报表的真实、准确、完整。 2 华孚时尚股份有限公司 2019 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |-----------------------------------------------------|-------------------|-------------------|---------------------------| | □ 是 √ 否 | 本报告期 | 上年同期 ...